Rents Fall, Renting Beats Buying

Renters across the country are experiencing relief as rents fall, but this isnt translating to a boost in the housing sales market. Lower rents are encouraging people to stay in their rental properties longer, as the cost of owning a home continues to climb due to high mortgage rates and near-record home prices. The hidden costs of homeownership, such as taxes, insurance, and maintenance, have also been rising, making it difficult for renters to transition to homeownership. However, in cities like Denver, Phoenix, and Austin, rents have dropped significantly, making renting a more financially sound decision for many.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.